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20120i29G <br />(8) ASSUM PTION FUNDING FEE: A fee equal to one-half of 1 percent (.50%) of the unpaid <br />principal balance of this laan as of the date of transfer of the property shall be payable at the time of transfer <br />to the mortgagee or its authorized agent, as trustee for the Secretary of Veterans Affairs. If the assumer fails <br />to pay this fee at the time of transfer, the fee shall constitute an additional debt to that akeady secured by this <br />instrument, shall beaz interest at the rate herein provided, and, at the option of the mortgagee of the <br />indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. Tlus fee is <br />automatically waived if the assumer is exempt under the provisions of 38 U. S. C. 3729 (b). <br />(b) ASSUMP�T'ION PROCESSING CHARGE: Upon application for approval to allow <br />assumprions and transfer of this loan, a processing fee may be charged by the mortgagee or its authorized <br />agent for determining the creditworthiness of the assumer and subsequently revising the holder' s ownership <br />records when an approved transfer is completed The amount of this charge shall not exceed the maximum <br />established by the Department of Veterans Affairs for a loan to which section 3714 of Chapter 37, Title 38, <br />United States Code applies. <br />(c) ASSUMPTION INDEMNITY IJABILITY If this obligation is assumed, then the assumer <br />hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and <br />securing the loan, including the obligarion of the veteran to indemnify the Department of Veterans Affairs <br />to the extent of any claim payment azising from the guaranty or insurance of the indebtedness created by this <br />instrument. <br />IN WITNESS WHEREOF, Mortgagor(s) has executed this Assumption Policy Rider. <br />� (Seal) <br />J RI C CARTER Mortgagor <br />� <br />(Seal) (Seal) <br />Mortgagor Mortgagor <br />(Seal) (Seal) <br />Mortgagor Mortgagor <br />VA ASSUMPTION POLICY RIDER DodYlegle� <br />VAPR.RDR 01/22/09 Page 2 of 2 www.doanagic.com <br />II I II I III I I) III I I I�U I I lu II I II I III) I� I I I I II ( I I I u II I III <br />